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ceiling, we will default on our debt. we won't. >> i think it's irresponsible of the president and his men to even talk about default. there's no reason for us to default. we bring in $250 billion in taxes every month. our interest payment is $20 billion. tell me why we would ever default. >> doug, what's your take on that? knowing you a little, i find it hard to believe you would agree with that. >> and i don't. the bottom line is semantics aside, failure to raise the debt ceiling leads to very bad economic outcomes and chaos in the financial markets. the treasury may or may not be able to prioritize interest payments, pay them first. most people say they can't. you can't. but past that, the politics are ugly. we'll pay the chinese but not our senior citizens social security, and the confidence effects are horrible. if an international lender looks at a country and says you know, you can make interest payments but you're not paying for your highway bills or social security or medicare, they're not going to lend you more
ceiling, we will default on our debt. we won't. >> i think it's irresponsible of the president and his men to even talk about default. there's no reason for us to default. we bring in $250 billion in taxes every month. our interest payment is $20 billion. tell me why we would ever default. >> doug, what's your take on that? knowing you a little, i find it hard to believe you would agree with that. >> and i don't. the bottom line is semantics aside, failure to raise the debt...
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and remember, this is not a debt ceiling that is lifted to pay more debts. this is to pay off and to pay the bills we already have that congress and the president have already incurred. so it would be the height of irresponsibility not to lift that debt ceiling. >> right, i heard warren buffet say in the end there will be extreme stupidity. but he said there is a really why you can't go with the debt ceiling or use it for political gain, let's watch what he said. >> it makes absolutely no sense to let it be used as a lever for other things. i mean, if you want to change the laws on abortion, immigration, you name it, tax laws, whatever, let that be a piece of legislation that people hammer out. but to tie it to something, well you break the promises of the united states government to people all over the world as well as to the u.s. citizens just makes no sense. it should be banned like nuclear weapons, basically like something that is too horrible to use. >> now, that was a man who made ten million dollars from the last recession, perfectly, and legitimately
and remember, this is not a debt ceiling that is lifted to pay more debts. this is to pay off and to pay the bills we already have that congress and the president have already incurred. so it would be the height of irresponsibility not to lift that debt ceiling. >> right, i heard warren buffet say in the end there will be extreme stupidity. but he said there is a really why you can't go with the debt ceiling or use it for political gain, let's watch what he said. >> it makes...
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and remember, this is not a debt ceiling that is lifted to pay more debts. this is to pay off and to pay the bills we already have that congress and the president have already incurred. so it would be the height of irresponsibility not to lift that debt ceiling. >> right, i heard warren buffet say in the end there will be extreme stupidity. but he said there is a really why you can't go with the debt ceiling or use it for political gain, let's watch what he said. >> it makes absolutely no sense to let it be used as a lever for other things. i mean, if you want to change the laws on abortion, immigration, you name it, tax laws, whatever, let that be a piece of hammer out. but to tie it to something, well you break the promises of the united states government to people all over the world as well as to the u.s. citizens just makes no sense. it should be banned like nuclear weapons, basically like something that is too horrible to use. >> now, that was a man who made ten million dollars from the last recession, perfectly , and legitimately. even he is saying, lo
and remember, this is not a debt ceiling that is lifted to pay more debts. this is to pay off and to pay the bills we already have that congress and the president have already incurred. so it would be the height of irresponsibility not to lift that debt ceiling. >> right, i heard warren buffet say in the end there will be extreme stupidity. but he said there is a really why you can't go with the debt ceiling or use it for political gain, let's watch what he said. >> it makes...
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ceiling or the threat of not raising the debt ceiling being used to extort a president or a governing party. >> that statement got four pinocchios in today's "the wall street journal." but this is a president negotiating with assad through putin. he's a penpal of iran's new president. but he's not going to sit down and negotiate with republicans on the debt and the deficit? isn't that his job? is he serious? >> the republicans have made it abundantly clear that a part of that negotiation would be to defund the affordable care act. and also they want the type of cuts in the deficit -- in the budget that really will kill everything that the president stands for. if only as we see this modest increase in unemployment, the wealthy are making so much money. the disparity between the poor and the middle class, which is the heart of our great nation, is falling into poverty. we need to have the government to participate with the private sector to get our great country back to work. but when you talk about cut further than the sequestration and to defund, that's not negotiation. that's puttin
ceiling or the threat of not raising the debt ceiling being used to extort a president or a governing party. >> that statement got four pinocchios in today's "the wall street journal." but this is a president negotiating with assad through putin. he's a penpal of iran's new president. but he's not going to sit down and negotiate with republicans on the debt and the deficit? isn't that his job? is he serious? >> the republicans have made it abundantly clear that a part of...
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raise the debt ceiling? >> because most economists believe is that you'd have a whole bunch of symptoms similar to the one we've had in the financial crisis that we've just been through. it could potentially lead us back into recession. they would all start with the treasury interest rate going up, interest rates going across the board, consumer confidence sink, business confidence sinking and so forth. >> is it conceivable to you that congress would not do this? >> unfortunately, i think it's a possibility. failing to to do this would be unthinkable. it's never happened in our history. congress does have this responsibility. it's a pretty solemn one. it is in the constitution. they have under article 1 responsibility for borrowing. if they allow the debt limb to cause a default crisis i think that would be potentially catastrophic. >> and this is where they might -- and i don't want to be pollyanna here because god knows that doesn't work in washington these days, but they all understand the consequences he
raise the debt ceiling? >> because most economists believe is that you'd have a whole bunch of symptoms similar to the one we've had in the financial crisis that we've just been through. it could potentially lead us back into recession. they would all start with the treasury interest rate going up, interest rates going across the board, consumer confidence sink, business confidence sinking and so forth. >> is it conceivable to you that congress would not do this? >>...
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down the road i mean like two weeks on the debt ceiling. they want to keep some chips out there for themselves. they feel like if they're going to negotiate on -- democrats feel like if they're going to negotiate away some of these key things now, then they are going to have nothing left when it comes to the really big issue that could completely kill the global economy. at least that's what a lot of economists warn about. >> they're always holding off to get the last best deal. >> let me bring in republican congressman king of new york who has been leading the fight in his own party against funding obama care. to you what is the essential difference to the way this was the last time the government shut down? a lot of critics of the republican position on this have said, well look, it is very difficult for the democrats to negotiate or for the white house to strike a deal with john boehner because he's not in control of the republican party in this on capitol hill. >> thank you, anderson. rick lazio and i were there together in '95 and '96.
down the road i mean like two weeks on the debt ceiling. they want to keep some chips out there for themselves. they feel like if they're going to negotiate on -- democrats feel like if they're going to negotiate away some of these key things now, then they are going to have nothing left when it comes to the really big issue that could completely kill the global economy. at least that's what a lot of economists warn about. >> they're always holding off to get the last best deal. >>...
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if the debt ceiling isn't raise the by october 17th. who is right? the former clinton labor secretary robert now with california berkeley, and steven moore who writes for "wall street journal." guys, thanks very much for coming in. i'll start with you, steve. go ahead and tell us, if the dead ceiling is not raise by october 17th, would there be a catastrophe? >> well, wolf, great to be with us. i hope you're not going to call me a debt ceiling denier. >> no. i don't want to see this happen. i think it's crazy that we're in this situation, it is hurting the economy, but some of these really dire forecasts, like a bankruptcy for the united states, or i would even make the case to you, wolf. that the chance of actually a default on our debt -- and this is a case the president has making. your analyst just made, i think that's irresponsible, because the chance of a default on the debt is very close to zero. the reason for that is even if we hit that debt ceiling, which i hope we don't do. even if we do, there is still monday to pay off the
if the debt ceiling isn't raise the by october 17th. who is right? the former clinton labor secretary robert now with california berkeley, and steven moore who writes for "wall street journal." guys, thanks very much for coming in. i'll start with you, steve. go ahead and tell us, if the dead ceiling is not raise by october 17th, would there be a catastrophe? >> well, wolf, great to be with us. i hope you're not going to call me a debt ceiling denier. >> no. i don't want...
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>> i think it is more likely we'll have debt ceiling and cr conversation. obviously, we all wish it would have been resolved weeks ago, or two weeks ago so we never actually walked into it. the closer we get to the debt ceiling, the more likely, okay, let's get some of this resolved. probably not long-term, but short-term, i would like to get america fully back to work again. >> you were with the president tonight, jim, word is leaking out. he was in a vaguely friendly term, saying look if it takes an extension of six weeks to resolve the debt ceiling situation we can alleviate some of the problems, that may be the way to go so the republicans can save face and get the government going again. is that your understanding? >> yes, i think it is accurate. the president showed flexibility with the caucus tonight. he made the point he made all along. he will not negotiate as long as one party is saying they will bring down the global economy through default on our debt by not paying our bills. or that they will hold down a shutdown of the government, with all the
>> i think it is more likely we'll have debt ceiling and cr conversation. obviously, we all wish it would have been resolved weeks ago, or two weeks ago so we never actually walked into it. the closer we get to the debt ceiling, the more likely, okay, let's get some of this resolved. probably not long-term, but short-term, i would like to get america fully back to work again. >> you were with the president tonight, jim, word is leaking out. he was in a vaguely friendly term, saying...
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ceiling or, you know, with -- on debt issues. now they got a real alternative. >> i agree. not only that, we're trying to negotiate a deal from iran and strength and they want us to stop sanctions. if we're in a procurious economic situation, we'll have far less leverage when it comes to sanctions, far less leverage when it comes to world influence. this is bad for america and the world and democracy and the war against terrorism and everything this country should stand for and that's why that appeal has to be made to cruz. cruz doesn't care whether other senators like him. he wants to get reelected and has constituents saying you're the most wonderful person in the world, thank you for standing up for us. we have to persuade him what he's doing is inconsistent with his own principles. >> what about, richardson, president obama's performance in all of this? its easy to say blame ted cruz but when the commander in chief has to take charge and prevent the country being damaged as best he can, sitting back in the manner that he has
ceiling or, you know, with -- on debt issues. now they got a real alternative. >> i agree. not only that, we're trying to negotiate a deal from iran and strength and they want us to stop sanctions. if we're in a procurious economic situation, we'll have far less leverage when it comes to sanctions, far less leverage when it comes to world influence. this is bad for america and the world and democracy and the war against terrorism and everything this country should stand for and that's why...
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. >> i saw warren buffet saying he believes it would probably run onto the debt ceiling, which is two weeks ago and that would be the extreme point of stupidity i think was a phrase, something like that and at that point they would finally not go over the catastrophic cliff of default. is that the kind of feeling you're picking up, the republicans now think if we keep it going until then we can do some kind of grand recovery plan, which can get us off the wrap here? >> you know, the speaker and his leaders aren't talking about obamacare, getting rid of obamacare as far as negotiating is going in public, but in private just down the hall the speaker had a meeting with some of his closest kitchen cabinet, if you will, and i'm told in that meeting today they discussed exactly that, the debt ceiling, what they can ask for with regard to economic issues, entitlement reform. they are at least privately trying to move forward, which means the shutdown could last awhile. >> dana, thank you indeed. >>> let's go to senator casey. you heard that and we're obviously all watching. i think a vague
. >> i saw warren buffet saying he believes it would probably run onto the debt ceiling, which is two weeks ago and that would be the extreme point of stupidity i think was a phrase, something like that and at that point they would finally not go over the catastrophic cliff of default. is that the kind of feeling you're picking up, the republicans now think if we keep it going until then we can do some kind of grand recovery plan, which can get us off the wrap here? >> you know, the...
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that the united states has hit its debt ceiling. $16.4 trillion. they have enough to stretch it out for a few more weeks, but we have hit the debt ceiling. >> it doesn't look like the dent ceiling is part of the deal right now. the democrats, especially the president of the united states, deeply disappointed by that. we may be on the verge of a fiscal cliff short-term agreement. the house of representatives, however, will not vote tonight. deal or no deal, there could be a significant impact on your taxes. tom foreman is joining us with more on this part of the storst. >> if you're sitting at home right now and you don't care about the democrats and republicans, you don't care about the white house, and you don't care about congress, you still need to be watching this number and paying attention because if that reaches zero tonight and we don't have a solid promise that a deal is in the works, it could affect everyone's wallet because everyone's taxes are going to go up. let me show you some examples here. let's say you make $50,000 in your househo
that the united states has hit its debt ceiling. $16.4 trillion. they have enough to stretch it out for a few more weeks, but we have hit the debt ceiling. >> it doesn't look like the dent ceiling is part of the deal right now. the democrats, especially the president of the united states, deeply disappointed by that. we may be on the verge of a fiscal cliff short-term agreement. the house of representatives, however, will not vote tonight. deal or no deal, there could be a significant...
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ceiling or, you know, with -- on debt issues. now they got a real alternative. >> i agree. not only that, we're trying to negotiate a deal from iran and strength and they want us to stop sanctions. if we're in a procurious economic situation, we'll have far less leverage when it comes to sanctions, far less leverage when it comes to world influence. this is bad for america and the world and democracy and the war against terrorism and everything this country should stand for and that's why that appeal has to be made to cruz. cruz doesn't care whether other senators like him. he wants to get reelected and has constituents saying you're the most wonderful person in the world, thank you for standing up for us. we have to persuade him what he's doing is inconsistent with his own principles. >> what about, richardson, president obama's performance in all of this? its easy to say blame ted cruz but when the commander in chief has to take charge and prevent the country being damaged as best he can, sitting back in the manner that he has
ceiling or, you know, with -- on debt issues. now they got a real alternative. >> i agree. not only that, we're trying to negotiate a deal from iran and strength and they want us to stop sanctions. if we're in a procurious economic situation, we'll have far less leverage when it comes to sanctions, far less leverage when it comes to world influence. this is bad for america and the world and democracy and the war against terrorism and everything this country should stand for and that's why...
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. >> i saw warren buffet saying he believes it would probably run onto the debt ceiling, which is two weeks ago and that would be the extreme point of stupidity i think was a phrase, something like that and at that point they would finally not go over the catastrophic cliff of default. is that the kind of feeling you're picking up, the republicans now think if we keep it going until then we can do some kind of grand recovery plan, which can get us off the wrap here? >> you know, the speaker and his leaders aren't talking about obamacare, getting rid of obamacare as far as negotiating is going in public, but in private just down the hall the speaker had a meeting with some of his closest kitchen cabinet, if you will, and i'm told in that meeting today they discussed exactly that, the debt ceiling, what they can ask for with regard to economic issues, entitlement reform. they are at least privately trying to move forward, which means the shutdown could last awhile. >> dana, thank you indeed. >>> let's go to senator casey. you heard that and we're obviously all watching. i think a vague
. >> i saw warren buffet saying he believes it would probably run onto the debt ceiling, which is two weeks ago and that would be the extreme point of stupidity i think was a phrase, something like that and at that point they would finally not go over the catastrophic cliff of default. is that the kind of feeling you're picking up, the republicans now think if we keep it going until then we can do some kind of grand recovery plan, which can get us off the wrap here? >> you know, the...
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not only currently but also as it approaches the debt ceiling. has a huge economic impact and huge leadership impact. >> it's interesting that you look at all that's going on in the world with the problems with the economy in greece, problems in spain and elsewhere and you see people taking to the streets. looking for leadership somewhere. now it's not coming from the united states. how do you think, emily, how is this -- how are other countries going to react to what they're seeing happen in the u.s.? >> i'm not sure exactly how they'll react but this is clear it's not putting the united states in a good position. it's both houses, the congress and the senate and the president. this is unfortunate that they can't come together as they did in ronald reagan's days when they could actually work together to get through some of these very difficult issues and lead as united states should be leading. so it's our hope, i think, as both republicans and democrats at this point, that the government can function correctly and that they can work together an
not only currently but also as it approaches the debt ceiling. has a huge economic impact and huge leadership impact. >> it's interesting that you look at all that's going on in the world with the problems with the economy in greece, problems in spain and elsewhere and you see people taking to the streets. looking for leadership somewhere. now it's not coming from the united states. how do you think, emily, how is this -- how are other countries going to react to what they're seeing...
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on the debt ceiling. he wanted to put a fiscal plan in place to reduce deficit in a balanced way. days before the government was going to default, john boehner walked away. and to put the government and the economy, the ability to pay our bills, in jeopardy, we got downgraded, our credit rating got downgraded. in terms of open to compromise, there's nobody to negotiate with. john boehner is not in control of the house caucus. that's controlled by 45 tea party members. it's not clear what anything could get through. so the president is simply saying, i'm not going to play games over our ability to pay our bills. bills that congress obligated us to. you know, if you have an idea of how to reduce the deficit or improve the health care law, he's open to it. but this is not a negotiation that's going on because there's nobody to negotiate with. >> i think one thing we can all agree on is there is no trust between the white house and republicans on capitol hill. >> or between the american people and washington.
on the debt ceiling. he wanted to put a fiscal plan in place to reduce deficit in a balanced way. days before the government was going to default, john boehner walked away. and to put the government and the economy, the ability to pay our bills, in jeopardy, we got downgraded, our credit rating got downgraded. in terms of open to compromise, there's nobody to negotiate with. john boehner is not in control of the house caucus. that's controlled by 45 tea party members. it's not clear what...
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ceiling 18 times, with you now all of a sudden the black man wants to raise the debt ceiling and then our country is -- [ inaudible ] don't put stock into what red ford is saying. but racism is here. ray sis sem part of the conversation and will continue to be a part of the conversation. >> so anna, before i let you go back -- >> let me just say. let me say this. the last time we add government shut down was under president bill clinton pip know he liked to think of himself as the first black president. but let's say it, the man was pasty white, is pasty white. >> i know where you're going. there was a lot of hate for bill clinton and bill clinton was a white president and the republicans hated him just as much. we cannot deny -- >> -- george w. bush. it is a polarized political environment. >> here is what i want to talk about. people say stop calling it obama care. the president embraced that term. quickly, can we talk about that? anna, in the beak, you said, if it was anti-aging or affordable, more popular when you call it that wab that more people would buy it. i say we should cal
ceiling 18 times, with you now all of a sudden the black man wants to raise the debt ceiling and then our country is -- [ inaudible ] don't put stock into what red ford is saying. but racism is here. ray sis sem part of the conversation and will continue to be a part of the conversation. >> so anna, before i let you go back -- >> let me just say. let me say this. the last time we add government shut down was under president bill clinton pip know he liked to think of himself as the...
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and congress has the responsibility to pass a bill to raise the debt ceiling so that the united states does not for the first time in its history default on its obligations. you know, the president's position is clear. he has been all year and continues to be eager and willing to sit down with lawmakers of both parties to work out a longer and broader budget compromise. it funds our priorities, invests in our future and reduces our deficit, continuing the work that he's done since he took office in reducing the deficit by more than half. but what he won't do is negotiate under threat of shutdown or threat of default. you know, the republicans are engaging in a practice here that's bad for the economy, bad for the middle class, and they're doing it all because they want to, you know, get this political victory of undermining or defunding or dismantling obama care, something they have failed to do legislatively, they failed to do through the supreme court, they failed to do when we had a national election last november. you know, obama care, the affordable care act is the law. it's provi
and congress has the responsibility to pass a bill to raise the debt ceiling so that the united states does not for the first time in its history default on its obligations. you know, the president's position is clear. he has been all year and continues to be eager and willing to sit down with lawmakers of both parties to work out a longer and broader budget compromise. it funds our priorities, invests in our future and reduces our deficit, continuing the work that he's done since he took...
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and congress has the responsibility to pass a bill to raise the debt ceiling so that the united states does not for the first time in its history default on its obligations. you know, the president's position is clear. he has been all year and continues to be eager and willing to sit down with lawmakers of both parties to work out a longer and broader budget compromise. it funds our priorities, invests in our future and reduces our deficit, continuing the work that he's done since he took office in reducing the deficit by more than half. but what he won't do is negotiate under threat of shutdown or threat of default. you know, the republicans are engaging in a practice here that's bad for the economy, bad for the middle class, and they're doing it all because they want to, you know, get this political victory of undermining or defunding or dismantling obama care, something they have failed to do legislatively, they failed to do through the supreme court, they failed to do when we had a national election last november. you know, obama care, the affordable care act is the law. it's provi
and congress has the responsibility to pass a bill to raise the debt ceiling so that the united states does not for the first time in its history default on its obligations. you know, the president's position is clear. he has been all year and continues to be eager and willing to sit down with lawmakers of both parties to work out a longer and broader budget compromise. it funds our priorities, invests in our future and reduces our deficit, continuing the work that he's done since he took...
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so if we don't raise the debt ceiling, we're deadbeats. if we fail the increase the debt limit, we would send our economy into a tailspin. that's a quote, by the way, what i just said. you know who said it? the republican speaker of the house, john boehner. the republican speaker has said if we don't pay our bills, we'll have an economic tailspin. this is not just my opinion. this is everybody's opinion. all right. now, why haven't we already gotten it done if it's such a simple thing? that's -- everybody is nodding, like, yeah, why didn't we already get this done? democrats and some reasonable republicans in congress are willing to raise the debt ceiling and pass a sensible budget. and i want to work with democrats and republicans to do just that, claire mccaskill is ready to do it. congressman cleave, he's ready to do it. and we just pass the budget, raise the debt ceiling, we can get back to focusing on growing the economy and creating jobs, educating our kids, all the things we have to do. unfortunately, there is -- >> you have been li
so if we don't raise the debt ceiling, we're deadbeats. if we fail the increase the debt limit, we would send our economy into a tailspin. that's a quote, by the way, what i just said. you know who said it? the republican speaker of the house, john boehner. the republican speaker has said if we don't pay our bills, we'll have an economic tailspin. this is not just my opinion. this is everybody's opinion. all right. now, why haven't we already gotten it done if it's such a simple thing? that's...
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the treasury secretary said today united states will reach that debt ceiling october 17th. that is just around the corner. and even as early as this saturday, the house is likely to work on some kind of bill that would raise the debt ceiling for a year. guess what? they will attach all kinds of things on it. obamacare, delaying that for a year is a possibility. passing the key stone pipeline, dealing with tax reform, putting instructions in there and even at the white house, the spokesman there, jay carney said, we're not negotiating on the debt ceiling. so right there you will have a collision course as you said, something that is perhaps even more problematic, dire for the economy than the government shutdown. >> absolutely. dana bash, the only one who understands all of this and puts it into english for us. thank you, dana. >>> our second story "outfront." a dove or a wolf in sleep's clothing? a crucial question for the world. iran's new president, hasan rouhani taking world by storm holding meetings with the french. talking nice but snubbing the president of the united
the treasury secretary said today united states will reach that debt ceiling october 17th. that is just around the corner. and even as early as this saturday, the house is likely to work on some kind of bill that would raise the debt ceiling for a year. guess what? they will attach all kinds of things on it. obamacare, delaying that for a year is a possibility. passing the key stone pipeline, dealing with tax reform, putting instructions in there and even at the white house, the spokesman...
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how are we going to see this ludicrous, childish behavior we saw over the debt ceiling argument, for example, come to an end and people get into a room and getting stuff done. that's the key thing, i think, for his second term. >> jamal alluded to a new strategy at the white house, which is going to be to go around congress and go directly to the american people. the white house believes the reason they got a deal in the 12th hour is because they went to the american people and the american people said by god, get something done. >> are they right? >> look, it did work. boehner has also indicated he's not going to deal with the president one-on-one. they're going to go through the regular order. the senate is going to have to do something, the house is going to have to do something. they're going to meet in conference and send it to the presidency. i think the president's legacy to go big, to get a grand bargain, to have long-term economic growth but also to have a legacy of fiscal sustainability could be his major legacy piece. and i think even though he wants to do guns, even thoug
how are we going to see this ludicrous, childish behavior we saw over the debt ceiling argument, for example, come to an end and people get into a room and getting stuff done. that's the key thing, i think, for his second term. >> jamal alluded to a new strategy at the white house, which is going to be to go around congress and go directly to the american people. the white house believes the reason they got a deal in the 12th hour is because they went to the american people and the...
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>> the nation's credit rating took a hit, remember that process, that debt ceiling negotiation process the president engaged in produced the sequester. so the white house at that point was dealing with capitol hill on this sort of brinkmanship, but they decided this time they're not going to do that. what has changed since then? well, in 2011, the president was a year away from running for election, he likes to say these days i have run my last election. so it is possible the republicans have misread the president's intent to negotiation on this health care law. keep in mind, why would the president sign a law that delays or tinkers with the threat of a government shutdown? he says he is not going to do it. he says when all of this gets out of the way, he looks at the process. he has not said what he is willing to look at but is offering that as perhaps a tiny fig leaf to the republicans, but i really get the feeling the president is saying listen, to john boehner, the tea party republicans, if you want to go off the cliff, go right ahead. >> jim, let's go back to dana, back to you. >>
>> the nation's credit rating took a hit, remember that process, that debt ceiling negotiation process the president engaged in produced the sequester. so the white house at that point was dealing with capitol hill on this sort of brinkmanship, but they decided this time they're not going to do that. what has changed since then? well, in 2011, the president was a year away from running for election, he likes to say these days i have run my last election. so it is possible the republicans...
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the position hasn't changed on the debt ceiling. how is that negotiating? >> jim, look. the president has had constructive conversations with house and senate republicans. he's also had very good conversations with house and senate democrats. his position that it's unacceptable to demand a ransom from the american people in return for not defaulting, it's not going to change. >> the question now, what's going to give or maybe who's going to give or cave. polling keeps getting worse for the gop and every day the shutdown affects more and more people. dana bash, jim acosta covering it all for us tonight. dana bash first on capitol hill. are the sides any closer do we know? >> reporter: they certainly don't appear that way. i can tell you the house speaker has now left the capitol, but he did have some dinner on the first floor of the capitol with some of his maybe call it his kitchen cabinet, some of his closest confidantes in the republican caucus. i think we know for several reasons you can see all the smoke coming out and smell the takeout food according to our congress
the position hasn't changed on the debt ceiling. how is that negotiating? >> jim, look. the president has had constructive conversations with house and senate republicans. he's also had very good conversations with house and senate democrats. his position that it's unacceptable to demand a ransom from the american people in return for not defaulting, it's not going to change. >> the question now, what's going to give or maybe who's going to give or cave. polling keeps getting worse...
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we expect him to talk about the debt ceiling. we're going to bring his comments to you live. >>> it's been one month since the tragic shooting at sandy hook elementary school. politicians at the state and federal level are scrambling to find ways to end gun violence in america. and one of them maryland governor martin o'malley outlined plans for what he says would be the toughest gun laws in the country. >> this would be a comprehensive legislative package to prevent gun violence and it addresses not only the guns but mental health and school safety. briefly, it will ban military assault weapons that have no place on the streets of baltimore or no other neighborhood in our state and it will limit the size of magazines in order to make it harder for criminals to gun down in succession police officers or school children. >> that might work for a state like maryland, a very blue state, but maybe not so much at a federal level. david keane, the president of the national rifle association, says, yeah, it will be a whole different stor
we expect him to talk about the debt ceiling. we're going to bring his comments to you live. >>> it's been one month since the tragic shooting at sandy hook elementary school. politicians at the state and federal level are scrambling to find ways to end gun violence in america. and one of them maryland governor martin o'malley outlined plans for what he says would be the toughest gun laws in the country. >> this would be a comprehensive legislative package to prevent gun violence...
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could default on its loan in congress didn't raise the debt ceiling. the white house is warning not to use it as a bargaining trip. >> there is no negotiating over congress's responsibility to assure we don't default. >> reporter: as soon as saturday, cnn is being told that house republicans to raise the debt ceiling and adds several gop priorities like the keystone pipeline or delaying obamacare for one year. >> the real play here is going to be leading up to the debt ceiling discussion where we could get a full delay for a year, including taxes of obamacare, and i think the president is ready to do that. >> reporter: fat chance, say democrats. >> their strategy will fail, because the financial markets will pistol-whip the republican conference into doing then, what they should be doing now, and that is pay america's bills. >> reporter: but let's go back to that first deadline, the looming government shutdown. senator, i know you're exhausted. ted cruz finally sat down after his headline grabbing. >> i do not like green bay eggs and ham. i tweeted a s
could default on its loan in congress didn't raise the debt ceiling. the white house is warning not to use it as a bargaining trip. >> there is no negotiating over congress's responsibility to assure we don't default. >> reporter: as soon as saturday, cnn is being told that house republicans to raise the debt ceiling and adds several gop priorities like the keystone pipeline or delaying obamacare for one year. >> the real play here is going to be leading up to the debt ceiling...
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to have to raise the debt ceiling? >> well, that's true and not true. part of what you're saying is eventually we might default, but we bring in about $250 billion a month in revenue from taxes. so we would never have to default by not having enough tax revenue, though we do spent about -- which leads to a large trillion dollar deficit. technically we could continue on without raising the debt ceiling. some people think, gong, maybe we should start spending what comes in. the bottom line is neither side gets -- even on things, members of their own parties are saying are wrong with obama care. from what they said, and then i want you to weigh in. listen to this. >> you go to the 1940s, nazi germany, look, we saw in britain envelope chamberlain, who told the british people accept the nazis. yes, they'll dominate the continent, but that's not our problem. let's appease them. why? because it could be done. we can't possibly stand against them. in america there were voices that listened to that. >> i think it's wrong, and i
to have to raise the debt ceiling? >> well, that's true and not true. part of what you're saying is eventually we might default, but we bring in about $250 billion a month in revenue from taxes. so we would never have to default by not having enough tax revenue, though we do spent about -- which leads to a large trillion dollar deficit. technically we could continue on without raising the debt ceiling. some people think, gong, maybe we should start spending what comes in. the bottom line...
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this time of course it' over the debt ceiling. and it's going to be big, because it really reflects two different visions of what the debt ceiling is all about. for the president, you heard today, it's about paying your bill. going to a restaurant. picking up the tab for food you've already eaten. fine. >> very common sense, yes. >> very common sense. for republicans, it's about solving a problem. making a government that is too big, smaller and getting control of runaway spending on entitlements like social security and medicare and fixing a long-term problem. it's not just about paying the bills. it's about the future. >> right, but there are also a lot of political calculations in here. i assume they're very close to the political calculations we saw in the last crisis. >> yes, they are, although, you know, in the last crisis it was very clear that the president had the let me rverage. he had just won the election. he had won an election over the tax issue and the republicans lost over the tax issue. they're pushing that so far
this time of course it' over the debt ceiling. and it's going to be big, because it really reflects two different visions of what the debt ceiling is all about. for the president, you heard today, it's about paying your bill. going to a restaurant. picking up the tab for food you've already eaten. fine. >> very common sense, yes. >> very common sense. for republicans, it's about solving a problem. making a government that is too big, smaller and getting control of runaway spending...
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ceiling or the threat of not raising the debt ceiling being used to extort a president or a governing party and trying to force issues that have nothing to do with the budget and have nothing to do with the debt. >> go ahead, respond to the president. >> listen, you know well that in 2006, barack obama made a speech talking about how we were mortgaging our children's future by raising the debt limit. we owe $17 trillion in debt. we are willing to raise the debt limit as long as we reform the way that we spend. reform our entitlement program. the president is going to have to negotiate with us just like he wants to negotiate with syria and russia to figure out a solution on how we resolve this debt problem. we're willing to raise it. but we can't continue down this path of borrowing and spending. if he will work with us, we can find common ground and not have any brinksmanship but he has to come to the table. >> but does he have to come to the table on obama care or other issues? >> listen, i hope he comes to the table on all of them. this is divided government. i think there's enough
ceiling or the threat of not raising the debt ceiling being used to extort a president or a governing party and trying to force issues that have nothing to do with the budget and have nothing to do with the debt. >> go ahead, respond to the president. >> listen, you know well that in 2006, barack obama made a speech talking about how we were mortgaging our children's future by raising the debt limit. we owe $17 trillion in debt. we are willing to raise the debt limit as long as we...
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the debt ceiling is going to be hit. so that now will be the incentive for getting bigger things like entitlement reform and tax reform. >> very frustrating for a lot of people. some liberals and conservatives are angry with the deal. amy kremer with the tea party tweeted this. i'm extremely disgusted with what happened in the house tonight there will be consequences. and another said your president sold you out. democrats mostly caved on letting the inheritance tax rise. and the deal gives republicans carte blanche. will there be blowback? >> i think there may be some. we'll still have to wait and see, because the election just passed, but i think the political pressures are very real when you look at who voted no on this. there are people who are unhappy with this on both sides. some liberal democrats who felt like that threshold of $450,000, to them that is well above wealthy. and they think that they wanted to see president obama make good on his promise of keeping that threshold at $250,000. and some republicans who
the debt ceiling is going to be hit. so that now will be the incentive for getting bigger things like entitlement reform and tax reform. >> very frustrating for a lot of people. some liberals and conservatives are angry with the deal. amy kremer with the tea party tweeted this. i'm extremely disgusted with what happened in the house tonight there will be consequences. and another said your president sold you out. democrats mostly caved on letting the inheritance tax rise. and the deal...
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but when it comes to the debt ceiling, the debt ceiling, by definition, isn't about authorization new spending. it is about paying the bills that we have already racked up. so are you just trying to say that you want to have this conversation together, at the same time? >> this is about, this is -- raising the debt ceiling is like raising your credit card limit. and historically, this has been a debate. you look over the last four presidents in this country, and there's been a debate, every time, it has come to raising the debt ceiling. because there's a recognition, for years now, that the federal government has been spending way more than it should, way beyond its means, much more than it's actually bringing in. and now, it is -- we cannot continue to kick this can down the road. we've come to the end of the road. it is time for us to stop spending money we don't have. >> former republican speaker newt gingrich is not exactly conflict averse, i think you'd agree, and he has warned the house republicans not to take up this debt ceiling fight. listen. >> asking barack obama not to be
but when it comes to the debt ceiling, the debt ceiling, by definition, isn't about authorization new spending. it is about paying the bills that we have already racked up. so are you just trying to say that you want to have this conversation together, at the same time? >> this is about, this is -- raising the debt ceiling is like raising your credit card limit. and historically, this has been a debate. you look over the last four presidents in this country, and there's been a debate,...
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republicans said we don't want to raise the debt ceiling. president obama said i'm not going to bargain with the debt ceiling and republicans in congress are going to vote to raise temporarily the debt ceiling on wednesday. it seems the president has the upper hand, and maybe that's why his speech was so darned tough. >> well, look, there's no doubt that being the president of the united states gives you the biggest bully pulpit there is in the nation, and i think he realized that and he is using it. part of that speech yesterday talked about taking it to the citizens and having the citizens continue being part of this process and pushing, but you know, with the debt ceiling, i think republicans were actually trying to extend an olive branch and found themselves rebuffed yesterday. if we had said pick the most controversial, divisive issues in the country right now, they are the issues that president obama chose to speak of yesterday. he's got a state of the union coming up in a couple of weeks. i would have expected that that would be a pla
republicans said we don't want to raise the debt ceiling. president obama said i'm not going to bargain with the debt ceiling and republicans in congress are going to vote to raise temporarily the debt ceiling on wednesday. it seems the president has the upper hand, and maybe that's why his speech was so darned tough. >> well, look, there's no doubt that being the president of the united states gives you the biggest bully pulpit there is in the nation, and i think he realized that and he...
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we've got the debt ceiling fights coming up. and this -- we've got to get back to the ability to reach across the aisle, find that common ground and move forward. and, you know, it is about doing the country's business but it also is about representing the folks at home. >> so how do you plan to deal with the debt ceiling and the automatic spending cuts? >> the first thing we've been doing is during orientation really just getting to know the republicans in our freshman class. they have done a good job bringing us together. let's get to know each other as americans and find that common ground. we've got to start living within our means. as a doctor, i've got to look at this from the perspective of the patients. there's no way to deal with the debt and the deficit without, you know, talking about medicare, without talking about how we use the resources that we have available. >> you've been watching this fiscal cliff fiasco as we all have as well, so do you have any concrete plans, any suggestions that you're bringing to the tabl
we've got the debt ceiling fights coming up. and this -- we've got to get back to the ability to reach across the aisle, find that common ground and move forward. and, you know, it is about doing the country's business but it also is about representing the folks at home. >> so how do you plan to deal with the debt ceiling and the automatic spending cuts? >> the first thing we've been doing is during orientation really just getting to know the republicans in our freshman class. they...
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ceiling, raising the debt ceiling. our white house correspondent is joining us from honolulu with more on what is going on. are you getting more information about the president's strategy? this was a huge fight averted last night but there are big battles coming in the coming weeks? >> reporter: the president is making it clear he does not want to negotiate on the debt ceiling and doesn't want a repeat of what we saw in the summer of 2011 where the president says the drawn out process has had a negative impact on the economic rur re, and the republicans are promising a fight and they want to see spending cuts in exchange for the cuts on spending. but the president delivers a stern warning. >> while i will negotiate over many things i will not another debate with this congress over whether or not they should pay the bills that they already wracked up with the laws that they passed. >> the president says another debt ceiling debate would be worse than the fiscal cliff. the president, as he pointed out, here in hawaii on
ceiling, raising the debt ceiling. our white house correspondent is joining us from honolulu with more on what is going on. are you getting more information about the president's strategy? this was a huge fight averted last night but there are big battles coming in the coming weeks? >> reporter: the president is making it clear he does not want to negotiate on the debt ceiling and doesn't want a repeat of what we saw in the summer of 2011 where the president says the drawn out process has...
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debt ceiling. this time around, the president is telling house republicans they can do it his way or own the blame. here he was. >> and republicans in congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. >> also, need to tell you the president did speak about his gun violence effort. he's had the package put together by the vice president is on his desk today. and he will talk about it a little later on this week. want to bring in two people here, ali velshi with me from new york, and gloria borger there in our nation's capital, to you both welcome. ali, it has been more than a year since that whole previous debt limit debacle. and i know you are saying, especially comparing this to what we just saw on new year's day with the fiscal cliff, this is going to be much, much worse, much bigger deal. talk to me ab
debt ceiling. this time around, the president is telling house republicans they can do it his way or own the blame. here he was. >> and republicans in congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. >> also, need to tell you the president did speak about his gun violence effort. he's had...
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the debt ceiling has been increased. but the problem is, the ominous specter of facing a new one in a few months. we bring in our friend, man, mentor, piers morgan. host of "piers morgan live." if i only had a copy of -- oh, wait. "shooting straight: guns, guys law and george clooney." you have characteristically, one, stepped up and come here this morning after a late night. >> leaving this building at 1:30 a.m. dedication. >> more reason for your celebration. i'm at the front of the parade. i ask you this. you have been aggressive in dealing with why this should have never happened. >> yeah. >> as they pat themselves on the back this morning and say, see, we did it, what message should loom large? >> get back to damn work. do your jobs. the idea that millions of americans, not just the furloughed americans, because they're likely to get their money back, what about the millions of americans, the bar workers who work near the statue of liberty who lost money for two weeks that they will never get back. what about the pa
the debt ceiling has been increased. but the problem is, the ominous specter of facing a new one in a few months. we bring in our friend, man, mentor, piers morgan. host of "piers morgan live." if i only had a copy of -- oh, wait. "shooting straight: guns, guys law and george clooney." you have characteristically, one, stepped up and come here this morning after a late night. >> leaving this building at 1:30 a.m. dedication. >> more reason for your celebration....
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there's an upcoming one with the debt ceiling. ep has to acknowledge this not so pretty reality in the washington as he gives a speech that's supposed to be inspirational. >> the reality is the same congress he was working with on friday will be the same congress he's working with come tuesday despite the speech. we'll watch closely to see more details coming up. thank you so much. we'll watch more of this ahead. >> we always know security is tight in washington, but for the inauguration, it is as tight as it can possibly get, like the motherload of security here. joe johns is here with us to talk about the whole situation. what are we seeing? >> well, john, first of all, there are probably going to be something like 12,000 security people that we know of in and around the national mall for all of the events. so let's break that down a little bit. there are about 4,000 d.c. police officers all of whom will be available for security, different shifts probably working between 12 and 1 hours on sunday and on monday. we have something
there's an upcoming one with the debt ceiling. ep has to acknowledge this not so pretty reality in the washington as he gives a speech that's supposed to be inspirational. >> the reality is the same congress he was working with on friday will be the same congress he's working with come tuesday despite the speech. we'll watch closely to see more details coming up. thank you so much. we'll watch more of this ahead. >> we always know security is tight in washington, but for the...
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now we're looking at the debt ceiling. d.c. can't fix what they break with the debt ceiling because the markets are going to respond. you know the dominos that fall there. so, that's the question about leadership. what are you doing down there to str strategize going forward? that fight matters. >> on behalf of the country, the economy and on behalf of every future president, no matter what his or her party, the president refuses to have the full faith and credit of the united states held hostage by a faction within one party, of one house, of one branch of government. he is not -- he is saying congress must raise the debt ceiling. i will sign the bill that has congress raising the debt ceiling without asking for any concessions on my part. republicans are saying what they'll do -- what we're seeing with the shutdown is a preview of what they're willing to do with the debt ceiling. they will allow the united states to default with all the terrible consequences that you just mentioned, unless they get what they want. unless they
now we're looking at the debt ceiling. d.c. can't fix what they break with the debt ceiling because the markets are going to respond. you know the dominos that fall there. so, that's the question about leadership. what are you doing down there to str strategize going forward? that fight matters. >> on behalf of the country, the economy and on behalf of every future president, no matter what his or her party, the president refuses to have the full faith and credit of the united states held...
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if the debt ceiling isn't raised, the country could run out of mondays after his speech. >> good morning. >> war makes early risers of us all. >> if you dream of a wedding, a high clear castle is the building featured in the popular "downtown abbey." this venue can can be available to you for up to 4 hundred guests. corporations can also rent out the castle. downtown abbey's third season debuted on sunday. i have never watched the show but i'm sure many of our viewers have. $24,000 and you can rent out that venue, wolf. >> up to 400 guests can show up. thank you. >>> gun control advocates say there's a gaping hole in the system. we're taking a closer look at background checks for would-be gun buyers. do they work? should the system be expanded? stand by. and sounds vying for your attention. so we invented a warning you can feel. introducing the all-new cadillac xts. available with a patented safety alert seat. when there's danger you might not see, you're warned by a pulse in the seat. it's technology you won't find in a mercedes e-class. the all-new cadillac xts has arrived, and it's br
if the debt ceiling isn't raised, the country could run out of mondays after his speech. >> good morning. >> war makes early risers of us all. >> if you dream of a wedding, a high clear castle is the building featured in the popular "downtown abbey." this venue can can be available to you for up to 4 hundred guests. corporations can also rent out the castle. downtown abbey's third season debuted on sunday. i have never watched the show but i'm sure many of our...
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the debt ceiling is a thermonuclear explosion. that's when we wake up october 17th and we find the treasury has $37 billion. we have an interest payment due of $29 billion shortly thereafter. and debt rollover the next month. what is interesting here is we know what our expenditures are going to be, but we don't know what our income is going to be. some days the treasury brings in $3 billion as a low. sometimes it brings in $50 billion. it's very unpredictable. because of that, the threat of default is significant. a default would be a horrible thing for the global economy and for every consumer in this nation because it would jack up the cost of capital for borrowers and small business people trying to get by. that's something we shouldn't have do deal with. we're the greatest nation on earth. the whole world is watching this play out. we deserve better from our political class. >> thermonuclear explosion. i just wrote that down. i'm quoting you on that one. as a member of the republican party, and i know you're not there on capi
the debt ceiling is a thermonuclear explosion. that's when we wake up october 17th and we find the treasury has $37 billion. we have an interest payment due of $29 billion shortly thereafter. and debt rollover the next month. what is interesting here is we know what our expenditures are going to be, but we don't know what our income is going to be. some days the treasury brings in $3 billion as a low. sometimes it brings in $50 billion. it's very unpredictable. because of that, the threat of...
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minting a $1 trillion coin to avert a debt ceiling crisis. some experts say it's not as crazy as it sounds. (dog) larry,larry,larrryyy. why take exercise so seriously,when it can be fun? push-ups or sprints? what's wrong with fetch? or chase? let's do this larry! ooh, i got it, i got it! (narrator) the calorie-smart nutrition in beneful healthy weight... includes grains and real chicken, because a healthy dog is a playful dog. beneful healthy weight. find us on facebook to help put more play in your day. >>> it may sound like a pretty crazy plan, but the idea of minting a $1 trillion coin to avert another debt ceiling battle is gaining some momentum and gaining some prominent supporters. cnn's brian todd has been working this story for us. so brian, what's the latest? >> well, kate and wolf, this has picked up more serious momentum in the last few days than any of us could have imagined, despite all of our jokes that, quote, we hold in our hands the solution to the debt ceiling crisis. this is because, mostly after the fiscal cliff and everyt
minting a $1 trillion coin to avert a debt ceiling crisis. some experts say it's not as crazy as it sounds. (dog) larry,larry,larrryyy. why take exercise so seriously,when it can be fun? push-ups or sprints? what's wrong with fetch? or chase? let's do this larry! ooh, i got it, i got it! (narrator) the calorie-smart nutrition in beneful healthy weight... includes grains and real chicken, because a healthy dog is a playful dog. beneful healthy weight. find us on facebook to help put more play in...
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ceiling. the treasury secretary has warned without an increase, the u.s. will run out of money to pay its bills early next year. >> will you negotiate with house republicans on the debt ceiling? >> brianna, you know the answer to this question. no, we're not going to negotiate for congress to pay bills that it has accrued. >> this is a bipartisan deal. >> reporter: obama warned republicans not to squander the glimmer of goodwill from the recent bipartisan budget dheel averts a government shutdown in the new year. >> i can't imagine that having seen this possible daylight breaking when it comes to cooperation in congress that folks are thinking actually about plunging us back into the kinds of brinksmanship and governance by crisis that has done us so much harm over the last couple of years. >> reporter: if that wasn't enough to send republicans a message -- >> i've got to assume folks aren't crazy enough to start that thing all over again. >> reporter: some republicans actually share that sent
ceiling. the treasury secretary has warned without an increase, the u.s. will run out of money to pay its bills early next year. >> will you negotiate with house republicans on the debt ceiling? >> brianna, you know the answer to this question. no, we're not going to negotiate for congress to pay bills that it has accrued. >> this is a bipartisan deal. >> reporter: obama warned republicans not to squander the glimmer of goodwill from the recent bipartisan budget dheel...